Zimbabwe signs multilateral tax agreement to strengthen international cooperation

Thupeyo Muleya, Beitbridge BureauZimbabwe has signed the Multilateral Convention on Mutual Administrative Assistance in Tax Matters (MAAC), joining 150 other jurisdictions in an international effort to combat tax evasion and improve cross-border tax cooperation.The signing took place at the headquarters of the Organisation for Economic Co-operation and Development (OECD) in Paris on 31 July 2025, with Zimbabwe Revenue Authority (Zimra) Commissioner General Ms Regina Chinamasa signing the agreement on behalf of the Government.In a statement on Tuesday, Ms Chinamasa said the signing marks Zimbabwe’s entry into a global network committed to transparency and tax cooperation.“We are aligning our systems with international standards to strengthen domestic revenue mobilisation and tackle illicit financial flows,” she said.She said the MAAC, developed by the OECD and the Council of Europe, is the most extensive international legal instrument for cooperation in tax matters.It allows for various forms of administrative assistance, including exchange of information on request, spontaneous exchanges, simultaneous tax examinations and assistance in tax recovery.“Zimbabwe’s accession to the Convention expands its tax information exchange capabilities beyond its current 19 bilateral double taxation agreements. Through the MAAC, it will be able to exchange information with over 150 jurisdictions, including major financial centres,” said Ms Chinamasa.Before the signing, she said, Zimbabwe underwent technical assessments of its legal framework, confidentiality standards and operational readiness.The Commissioner General added that revenue authority had established a dedicated Exchange of Information (EOI) Unit in January 2024.In addition, she said an inter-agency EOI Country Working Group was formed to coordinate among institutions such as the Ministry of Finance, the Attorney General’s Office, and the Reserve Bank of Zimbabwe. the Financial Intelligence Unit among other public and private sector stakeholders.“Ratification of the Convention is expected by 31 August 2025, with operational access to MAAC mechanisms anticipated by 1 January 2026,” said Ms Chinamasa.Share on FacebookPost on XFollow usSave

Originally published on Zimbabwe Herald

Source: Zimbabwe Herald

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